Digital Business and New Technologies

This study explores the meaning, scope, and importance of digital business and e-commerce. It discusses the technologies and software used in digital business and how they serve as business tools. The study also highlights the development of digital business and the reasons why companies are adopting it.

Digital Business and New
Technologies
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Table of Contents
INTRODUCTION 3
MAIN BODY 3
Meaning and scope of digital business and e-commerce 3
Importance of digital business and E-commerce 4
Development of digital business and E-commerce 5
Technology used in digital business and E-commerce 5
Used technological platforms and software in digital business and E-commerce 6
How technology and software of digital business are used as a business tool 7
CONCLUSION 7
REFERENCES 9
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INTRODUCTION
Digital business is a type of business in which companies perform activities digitally which
are based on technologies (Bharadwaj and et.al., 2013). E-commerce refers a process of buying
as well as selling of goods and services over the internet. Or by making use of technologies’ and
internet, performing business activities are known as e-commerce and digital business. This
study is going to show importance of digital business and E-commerce which are based on
technology. Without using technology, it is not possible for companies to run digital business
and having E-commerce. Further, it will also show reasons and scope to run digital business and
E-commerce activities. It will also show some technologies which are being used in the process
of E-commerce and digital business such as internet marketing, mobile commerce, and electronic
data interchange etc.
MAIN BODY
Meaning and scope of digital business and e-commerce
Digital business refers a creation of new business by making an effective use of
technologies. Without using technologies it is not possible for businesses to run digital business
and its activities. Digital business and E-commerce is one of the main type of business. There are
several companies who perform all digital business activities or those activities which are being
performed and played digitally or with technologies. Digital technologies refers electronic tools,
devices and systems which makes companies to perform digital business activities and help them
out in storing data or process. In the context of nature as well as scope of digital business and E-
commerce it can be said that it allows e-commerce BusI
nesses in making profit, delivering products and services online and save their time as well as
cost. In addition, it can also be said that digital business and E-commerce are allowing global
reach to sellers. With this help and making use of technology, buyers and sellers can meet in the
virtual world without the hindrance of location (Al-Debi, El-Haddadeh and Avison, 2018).
It also reduces cost as it eliminates fixed cost of maintaining shops. Overall, it helps them in
making a higher profit margin and increasing sales. In addition, in the context of scope of E-
commerce businesses and digital business, it is stated that it helps customers in getting quick
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delivery and qualitative products without making so much efforts. On the other hand, in the
favour of businesses, it can be said that companies find it easy to solve customers’ complaints.
They can solve their queries in a timely manner which saves their time, energy as well as efforts.
Electronic commerce or E-commerce allows businesses and customers to be in touch directly as
they even do not have requirement of intermediaries which makes communication effective.
Importance of digital business and E-commerce
Digital business is a process of buying and selling of goods and services which relies on
web or internet. There are several benefits and importance of selecting this topic of digital
business and E-commerce business which is all based on internet and technology such as:
Staying competitive: As per the report and statistics it is known that one of the main
importance or benefit of using digital and E-commerce based business is to being in the
competition and taking advantages of competition. Online shopping is also expected to grow at a
great place. So, it can be said that digital or web based businesses are making companies to
become market leader and taking competitive advantages.
Going global: One of the other main importance of digital and E-commerce business
which is based on technology is companies can go global with it. It is one of the best way of
increasing revenue and making a position not only in local markets but also in different countries
ands international markets. So, it can be said that it can make able to companies to tap into
international market more easily by online selling (Kane and et.al., 2015).
Lowering cost: It is stated that E-commerce tend to carry far lower costs than brick and
mortar set ups. Companies of E-commerce who perform business activities digitally and with the
help of technology and internet do not require of heavy investment. For example: Web or
internet based businesses can focus on digital advertising which saes their cost,they do not also
have to pay rent for shops etc.
Pleasant customers relationship: It is stated that many people are enjoying online
shopping and buying products online because they can save their time and travelling cost. Hey
do not have to visit many shops for buying one product and services. They only require to follow
some steps by making use of internet and some tools for purchasing their choices of products and
services.
So, from the above, it can be said that technological based this topic or digital business plays an
important role for businesses and people as well.
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Development of digital business and E-commerce
In the context of reason of choosing this topic and reasons of companies of going online
and perform al technological based business activities include:
Increase revenue: One of the main reason of businesses going digital and online is
creating revenue because it helps to acquire brand value and customers. With the help of this,
customers are nowadays are not based or dependent on content before buying their products as
they only need to read all reviews carefully about products which they want to buy on platforms
on which they are available. So, this ease allows them to increase purchasing which directly lead
to increase revenue. So, one of the main reason of selecting and developing this topic of digital
business is to help companies and telling them some ways of increasing revenues.
Improves market reach: It can be said that it is becoming tough for small and medium
size businesses to stand tall in this competition era. Making profit, attracting customers is one of
the biggest task. But online and digital based businesses has made it able for SMEs to cope up
with large companies and taking competitive advantages. Surviving effectively is the only way to
sustain any business. However, digital business or E-commerce is playing a vital role and it is teh
main reason of developing this technological based topic (Kahre, Hoffman and Ahlemann,
2017).
Improving customers experience: Satisfying customers is one of the main key of teh
success of business. Making all people satisfied make can not only help businessman but also
customers. One of the main reason of developing this topic and using digital business is to
improve experience of customers. Customers prefer to buy products online and when they get
their desired products and services at their home than it makes them feel valued and motivated.
So, making businesses more aware about customers services is other main reason of selecting
this topic.
Technology used in digital business and E-commerce
In the context of technology used in digital business or E-commerce, it is stated that they
use technology as a tool for innovation.
AI- powered personalization: There are several online giants and players such as
Amazon, Flipcart and others who are making an effective use of internet in order tp buy and sell
products and services online. Artificial intelligence is one of the main technology which is being
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used in this digital business or E-commerce businesses as it holds the potential for dynamic as
well as adaptable targeting. It helps companies out to get the right pitch in a timely manner and
at a right place. Some companies make an effective use of visual search and discovery tools in
order to link their individual images with their interest. It also allows them to recommend all
those products and services to customers which they want to buy and are more likely to
purchase.
In addition, it can be said that E-commerce companies make an effective use of internal
and external resources. They have to develop a website in order to allow customers to order their
products and giving a platform to customers. Website is one of the main implementation because
E-commerce is considered more than a web presence. So, it can be said that there are several
internet technologies which are being used in this internet based digital business which all are
mainly designed and developed to help all these businesses to work smarter rather working
harder. There are some examples of collaboration tools such as: wireless and mobile
technologies, social media and management etc.
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Used technological platforms and software in digital business and E-commerce
There are several marketing platforms which are available in one click corner which include:
magentro, Shopify, BigCommerce, Jumpseller etc. There are several resources and elements
which are required to run all business activities online or digitally such as:
Communication: It is one of the main element and resource which is important to make E-
commerce business successful and development. It is just an ability which makes companies able
to deliver products, informations and making payments via networks as like the internet.
Interface: The exact meaning of E-commerce is transaction change and informations which
may be business to business, business to customers and business to government. So, it is
considered one of the other main element of resource which us required to devlop and make this
E-commerce business successful.
Business processes: Those activities which support commerce electronically is called E-
commerce. So, for this it requires networked connections. In this E-commerce or digital
business, companies use manufacturing and inventory business processes (Berghaus and Back,
2016).
Online: E-commerce is an electronic environment which allows sellers and buyers to
perform business activities or buying and selling products. For buying products and selling
products in e-commerce customers have to buy products online and that is why it is called E-
commerce. It is one of the other main element and resource.
Structure: Other main element which is required to develop E-commerce business is
structure such as: text, video, web pages, data, internet telephony etc.
Market: E-commerce is known as considered as worldwide network. In this type, any type
of local store can open web based store and reach globally at doorstep to suppliers, customers
etc.
So, from the above discussed all elements and resources it can clearly say that E-commerce
or digital business is technological based.
How technology and software of digital business are used as a business tool
Application services: It is one of the main layer in which companies decide that which type of
E-commerce application they need to implement. There are mainly 3 types of e-commerce
applications such as: customers to business, intra organizational and business to business. The
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selection of the application depend upon the nature as well as purpose of the business. Mainly
most of the companies apply business to customers type of E-commerce business application.
Information brokerage layer: It is other main layer which is rapidly becoming important in
dealing with wider amount of informations on networks. This is a second layer so it works as like
intermediaries between information providers and customers in order to give some constraints
such as: affordable prices, fast services etc. One of the other main function of this brokerage
layer is to support for data management and traditional transaction services.
Secure messaging layer: Electronic messages is one of the main issue in E-commerce
businesses. If phone line is dead than businessmen and customers have to face several problems
but by developing and making use of secure messaging layer companies can operate their
business more effectively. It has ability to deliver right messges at right time.
CONCLUSION
From the above study it has been concluded that digital business played an important role
in accomplishing goals of business. It has made them able to take competitive advantages and
making a strong position in this competitive market. Further, it has also shown some different
software’s and technologies which are being used in E-commerce and digital business. There are
several companies who are making an effective use of E-commerce and digital business
activities and has made themselves able to satisfy needs of customers as well as accomplish all
their goals. There are several reasons has also been shown for which companies are making use
of digital business and E-commerce.
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REFERENCES
Books and journal
Al-Debi, M.M., El-Haddadeh, R. and Avison, D., 2008. Defining the business model in the new
world of digital business. AMCIS 2008 proceedings. p.300.
Berghaus, S. and Back, A., 2016, September. Stages in Digital Business Transformation: Results
of an Empirical Maturity Study. In MCIS (p. 22).
Bharadwaj, A. and et.al., 2013. Digital business strategy: toward a next generation of
insights. MIS quarterly. Pp.471-482.
Kahre, C., Hoffmann, D. and Ahlemann, F., 2017. Beyond business-IT alignment-digital
business strategies as a paradigmatic shift: a review and research agenda.
Kane, G.C. and et.al., 2015. Strategy, not technology, drives digital transformation. MIT Sloan
Management Review and Deloitte University Press. 14(1-25).
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